Sterling Bay's 311 W. Monroe St. is now fully leased.

CHICAGO—National business and tech consulting firm West Monroe Partners has signed a lease for its corporate headquarters totaling 208,000 square feet at Sterling Bay's 311 W. Monroe St. office building here.

The 12-year lease brings the 15-story, 382,490-square-foot office building located at the corner of Franklin and Monroe streets to full occupancy. The building, which Sterling Bay acquired in 2017, will be renamed "West Monroe Partners HQ."

The lease for the new space runs from 2020 to 2032 and covers eight floors at the building. Sterling Bay acquired the nearly vacant 15-story office building in 2017 and through major capital improvements, modernized the property with open floor plans and best-in-class amenities. Other tenants at the property include Convene and Mayer Brown.

"We had a unique opportunity with this deal to establish a place that we can call home for more than a decade—and a headquarters that will accommodate our aggressive expansion plans during that time," says Kevin McCarty, West Monroe's president and CEO. "With 'West Monroe Partners HQ,' clients, partners, employees, and friends will all be able to come together under the growing West Monroe umbrella to experience our undeniably different culture and purpose."

West Monroe Partners' employees will move into the new space in the fall of 2020 from its current headquarters is at 222 W. Adams St., in The Franklin, where it has been since 2012 and currently leases 104,000 square feet. From 2006 to 2012, the firm was located at 175 W. Jackson St.

"While the move is only across the street, it is a significant moment for our employee-owners at West Monroe who have all played a role in the growth that has brought us to where we are today," says Doug Armstrong, West Monroe's COO. "We are proud of this milestone and look forward to creating a headquarters that is designed to support the firm's unique culture and employee experience and drive value for our clients."

Sterling Bay acquired 311 W. Monroe in 2017 for approximately $61 million, according to multiple published reports. Since then, the firm completed significant capital improvements to reposition the mostly vacant property by creating open-floor plates with best in class amenities that include an indoor/outdoor lounge, private bowling alley and gaming area, updated event spaces, conference facilities, an 8,000-square-foot fitness center and private parking.

Among the infrastructure improvements undertaken by Sterling have included updated plumbing, HVAC, fire protection, electrical systems and new elevators.

"The success we've seen in leasing 311 W. Monroe validates our effective repositioning of this property into a top-tier office building that exceeds today's standard for a next-level experience," says Andy Gloor, CEO of Sterling Bay.

West Monroe Partners was founded in Chicago in 2002. The Chicago office and headquarters include a growing team of business consultants and deep technologists that serves clients in key industries, including healthcare and life sciences, financial services, energy and utilities, consumer and industrial products, and private equity. The firm's corporate headquarters is also home to a majority of the firm's Shared Services teams that span finance, marketing, operations, legal, HR, and more.

The company, which has a workforce of more than 1,400, has nine offices nationwide. In addition to Chicago, the firm has offices in: Columbus, Dallas, Los Angeles, Minneapolis, New York, Pittsburgh, San Francisco and Seattle.

Instant Insights /

West Monroe Partners Signs 208,000 SF Headquarters Lease Deal in Chicago

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